Responsibilities for assessing ESG performance in CDC's investments is shared between CDC's ESG-I / BI teams and the relevant investment team. Ensuring that investments achieve development impact is built into senior team performance objectives and the DI grid outcomes are part of performance-based payments.
The investment team is responsible for all aspects of a transaction and so CDC's expectations with respect to responsible investment are an important part of each officer's performance management objectives. The Deal Team is led by the Deal Lead, who takes overall responsibility and accountability for all aspects of the deal. Each team member is individually responsible for delivering high-quality work in their respective field of specialisation (such as ESG, BI, DI, Legal) and role (such as financial modelling).
To enable investment officers to perform this role, the investment team attend training on ESG and BI matters, including a general introduction shortly after they join the organisation and being invited to other thematic workshops. The majority of training is received "on the job" by working with the ESG-I / BI teams on individual deals and undertaking site visits together. Furthermore, CDC launched a new investment process manual at the end of 2019, to provide even greater clarity on all CDC’s key policies and processes relevant to selecting, making, managing and exiting investments responsibly.
In 2018, IC members began to receive training on responsible investment topics, beginning with gender equality and women's economic empowerment.
In 2019, CDC introduced a new behavioural competency framework in line with its core values, explicitly linking adherence to the CDC mission of development impact to progression across all levels.